Just how loyal are my customers? That is the question every business should be asking themselves. Implementing the Net Promoter System will help you answer that question. Many companies have gone down the path of implementing the Net Promoter System only to abandon it or not fully utilize its potential.
There are three fundamental elements needed for a successful Net Promoter System. David Mitzenmacher clearly demonstrates these elements in his now famous Net Promoter on a Napkin illustration.
Element #1- Companies must systematically categorize promoters and detractors and communicate feedback at all levels in the organization.
Net Promoter on a Napkin by David Mitzenmacher.
Element #2- Companies must create a closed loop process for learning and improvement. This must be incorporated in daily processes. They must act on what they learn.
Element #3- Executive leadership must make creating Promoters and reducing Detractors the top priority within the organization. It needs to be part of the company’s DNA.
Companies that master these elements know how loyal their customers are and what financial value a Promoter brings to the organization. Or conversely, how much a Detractor costs their business.